Traffic Light Labels – an idea which could help people to find a better bank account

I’ve spent a bit of time this year working with Tesco Bank exploring ways to make it easier for people to figure out which bank account would work best for the way they run their current account finances.

The red, amber, green colour coding idea seems like a straightforward way to quickly narrow down the account(s) which tie in with the way you manage your bank balance.

It’s a method that’s been used in the food industry for some years and there’s no reason why it can’t give people the confidence to switch to a more suitable current account.

The suggestion been submitted to the Competition and Markets Authority as part of it’s ongoing review of the UK current account market.

If you’re interested to see how it may look, please take a quick look at the document below.